Hours after The New York Times published a bombshell report detailing decades of alleged sexual harassment by Harvey Weinstein, the powerful Hollywood executive’s production studio hastily convened a bicoastal staff meeting to assess the damage, reassure staff, and chart the future of The Weinstein Company without its combative and hard-charging co-founder . “We are going to be O.K.,” President and C.O.O. David Glasser said, two people who attended the meeting told the Times.

But without Weinstein, The Weinstein Company is in trouble. One-third of the company’s all-male board resigned on Friday, Weinstein announced that he would be taking an indefinite leave, effective immediately, and the remaining members of the board hired an outside law firm to conduct an internal investigation. The departed board members include Dirk Ziff, a billionaire investor; Marc Lasry, owner of the Milwaukee Bucks and chief executive of investment firm Avenue Capital Group; and Tim Sarnoff, president of production services and deputy chief executive of Technicolor. The status of Paul Tudor Jones, a billionaire hedge fund manager who is another major stakeholder in The Weinstein Company, is unknown. Glasser and Bob Weinstein, Harvey’s brother, are now in charge of the studio, which the brothers co-founded in New York City in 2005 after leaving Miramax. (Disney, which bought Miramax from the Weinsteins in 1993 for $80 million, sold the entertainment company to a group of investors in 2010 for more than $660 million.)

While Weinstein was known for his temper, he was also an experienced and charismatic executive who was a major force during awards season. While rumors of other misbehavior circulated for years, this week’s report documenting allegations that he paid off multiple women who accused him of sexual harassment is likely to end his career in Hollywood.

“As Harvey has said, it is important for him to get professional help for the problems he has acknowledged,” said a statement signed by board members Bob Weinstein, Tarak Ben Ammar, Lance Maerov and Richard Koenigsberg, the Times reports. “Next steps will depend on Harvey’s therapeutic progress, the outcome of the Board’s independent investigation, and Harvey’s own personal decisions.”

The upheaval may not spell doom for The Weinstein Company, but its future is certainly uncertain. The last time a Weinstein picture made a splash at the Oscars was in 2012, with The Artist’s Best Picture win. The boutique company has recently found itself marginalized on the festival circuit, where Netflix, Amazon, and reigning Oscar champion A24 now hold sway. Weinstein has released six movies this year, which have made a combined $123 million at the domestic box office (big studios like Walt Disney and Warner Bros. usually take in around $1 to $2 billion), and its big Oscar hopefuls this year are Wind River and The Current War, which got a lukewarm response at its TIFF premiere.

Now, as the Timescalls on Weinstein to release his accusers from non-disclosure agreements, and as new accusers come forward, The Weinstein Company may struggle to survive in its current form.

Harvey Weinstein issued an odd apology after the Times report was published, acknowledging past bad behavior but also denying some of the claims. He has said he is planning to sue the Times for not giving him and his company enough time to prepare, though no suit has yet been filed. The Times said that they notified him two days before the piece went live.